Compute the income from other sources for the assessment year 2020-21 ...
Income from Other Sources for Assessment Year 2020-21
Income from Agriculture in Pakistan: Rs. 5000
This refers to the income earned from any agricultural land that the individual owns or cultivates in Pakistan.
Ground Rent for Land in Rajkot: Rs. 10000
This refers to the rental income earned from leasing out land in the city of Rajkot.
Interest on Postal Savings Bank Account: Rs. 1000
This refers to the interest earned on savings deposited in a postal savings bank account.
Dividend from Foreign Company: Rs. 700
This refers to the income earned by the individual from owning shares in a foreign company.
Interest on Deposit with IFCI: Rs. 5000
This refers to the interest earned on a deposit made with the Industrial Finance Corporation of India.
Rent from Subletting a House: Rs. 26250
This refers to the rental income earned by the individual by subletting a house that he/she owns.
Rent Paid for Sublet House: Rs. 12000
This refers to the rent that the individual pays for the house that he/she has sublet to someone else.
Other Expenses for Sublet House: Rs. 1000
This refers to any other expenses incurred by the individual for maintaining the sublet house.
Winnings from Horse Race: Rs. 12300
This refers to any amount of money won by the individual from horse racing.
Interest on Tax-Free Debentures of Hero Honda Ltd.: Rs. 36000
This refers to the interest earned on tax-free debentures issued by Hero Honda Ltd. that the individual has invested in.
In conclusion, the total income from other sources for the assessment year 2020-21 is Rs. 88,950.